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MNB rejects accusations by economy minister that report does damage

The National Bank of Hungary rejected accusations by National Economy Minister György Matolcsy on Thursday that a report it will publish is damaging to the country. The central bank staff do their work "in line with professional standards" and "their projects are well founded and objective", the MNB press department said. Matolcsy told a conference earlier in the day that a report the MNB would publish suggesting Hungary's state debt is set to increase "harms, to a very large degree, the authority of the National Bank of Hungary, Hungary's bank of issue, the Hungarian financial system and Hungary". Hungary's government has made reducing the country's state debt a priority, even writing a cap into the new constitution.